Soybeans closed modestly higher on short covering and technical buying, also ending the week with modest gains. Export sales were down on the week, but the overall pace is still slightly ahead of last marketing year, nearing the end of the first quarter. The leading buyers were China and the Netherlands with a significant cancellation by unknown destinations. Weather conditions in South America continue to generally favor Brazil over Argentina. That said – there are concerns about a drier pattern in southern Brazil.
